Trump prepared to hit China with $60 billion in annual tariffs

President Trump is preparing to impose a package of $60 billion in annual tariffs against Chinese products, following through on a longtime threat that he says will punish China for intellectual property theft and create more U.S. jobs.

The tariff package, which Trump plans to unveil by Friday, was confirmed by four senior administration officials.

Senior aides had presented Trump with a $30 billion tariff package that would apply to a range of products, but Trump directed them to roughly double the scope of the new trade levies.